Premium beauty and personal care was worse affected by COVID-19 than the mass segment in 2020, with growth in total current value sales falling well below the review period CAGR and several categories posting volume sales declines. This was largely due to the economic shock of the pandemic, which prompted even more affluent urban consumers – who comprise the core base for premium brands – to postpone planned purchases or trade down to masstige and mass products.
Premium beauty and personal care was not only hardest hit by the economic impact of COVID-19 in 2020, but also more exposed to its societal fallout. The penetration of premium brands is limited to a small handful of the main market categories, two of which – colour cosmetics and fragrances – suffered disproportionately as Pakistanis socialised less frequently and spent more time at home due to public health restrictions, remote working and fear of contracting the virus.
Premium skin care remained by far the largest of the main premium beauty and personal care categories in value terms in 2020. It also proved most resilient to the fallout of COVID-19, with current value sales growing at a double-digit rate that was only slightly slower than that recorded in 2019.
Premium beauty and personal care looks set to post significantly improved growth in total current value sales in 2021, with overall volume sales also expected to rebound strongly. As the threat from COVID-19 recedes in tandem with Pakistan’s vaccine rollout, a more favourable economic climate should bolster confidence and spending power among consumers.
The growing influence of Western beauty and personal care trends in Pakistan will also remain a key driver of demand in the premium segment over the forecast period. In particular, exposure to Western hair, make-up and skin care trends and celebrity lifestyles via social media should make younger urban consumers more inclined to choose premium brands.
Although the prospects for the premium segment are broadly favourable, it is still only expected account for a low single-digit share of total beauty and personal care current value sales by 2025. Demand will remain concentrated among a small base of affluent urban consumers, with most Pakistanis only buying premium products occasionally, if at all.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Pakistan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Pakistan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page